GIFT Nifty futures down 3 pts; D-Street likely to open on a muted note
Amid muted trend in the global markets, Indian equities after sharp gains of over 4 per cent on Nifty last week are seen to open on a muted note.
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GIFT Nifty traded at 23,475, mildly down by just .01 per cent or 3 points on the NSE IX, reflecting a muted opening for Indian equities. Indian equities have been trading higher for the five consecutive days on improving global cues and as technicals and other indicators point at bottoming out in the market.
Asian indices muted
Asian markets remained in a tight range as investors discounted prospects of less severe trade tariffs under President Trump. Also, Japanese markets retreated lower amid weak business activity reading.
However, Chinese markets reversed early losses amid renewed positivity around the country's artificial intelligence (AI) capabilities.
US markets
In Thursday's session, the US markets closed on a muted as investors factored in new set of economic data. Wall Street closed slightly lower on Thursday as investors weighed new economic data against the Federal Reserve's policy statement. The Dow closed almost flat, while the S&P 500 and Nasdaq declined 0.22% and 0.33%, respectively.
FII/DII action: FPIs on buying spree
Foreign portfolio investors (FPIs) became net buyers, showing renewed optimism, were net buyers for the past two trading sessions. In contrast, domestic institutional investors or DIIs took to profit booking at higher levels on both of these sessions.
Commodities: Gold steady, oil gains
Gold prices have come off their record highs amid a stronger dollar. Nonetheless, their overall outlook remains bullish on geopoliticial tensions among others.
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08:44 AM IST
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